Two pirate crews descend upon the sleepy Caribbean island of Santo Oloroso to avenge the death of their former master Captain Flint, or to find and grab his treasure. Old enmities will surface, deals will be made and broken, and some folk will swing from the yard-arm while others receive the dreaded Black Spot, before these affairs are settled for good or ill.

The cast of twelve consists of such colourful characters as:

• Captain 'Black' Jack McCracken (M) dashing captain of the Scurvy Knave
• Sawbonnes McGraw (E) sarcastic but reliable ship's doctor
• Tom (E) helpful young ship's boy
• Captain 'Saucy' Nancy Martin (F) bold and fiery captain of The Fury
• Alice Tremain (F) shrewd and intellectual first mate
• Sir Percival Stanforth (M) steadfast and rather stuffy Governor of Jamaica
• Elizabeth Stanforth (F) the Governor's desirable (if demanding) elder daughter
• Captian Hal Overy (M) stubborn and blunt Royal Navy Captain
• Hayapitl (E) diplomatic Indian chief
• Tokeleth (F) chief's headstrong daughter
• Don Inigo de Velez y Contrera (M) condescending Spanish nobleman
• Bill Pistol (M) marooned former pirate, now mad as a brush